Overview

• Shares traded ex-split on Sept. 22, converting each Rs 10 share into five Rs 2 shares in the company’s first stock split.
• On an adjusted basis the stock jumped about 17–20% in early trade, with intraday highs near Rs 168.5–170.25.
• Theoretical price adjusted from Rs 709.05 to about Rs 141.81, so some platforms appeared to show an 80% drop even though holding value was unchanged.
• Outstanding equity expanded from roughly 385.69 crore shares to about 1,928 crore, with authorised capital recast; fundamentals and market capitalisation were unaffected.
• Credit of subdivided shares to demat accounts may take up to two working days under T+1, and temporary P&L anomalies can occur until the new shares reflect; brokers also cited positive sentiment after SEBI dismissed some Hindenburg allegations and Morgan Stanley named the stock a top pick.